 "Sinha says call on BSE listing in 6 months post-Sebi-FMC merger")
"We are hopeful that in about six months from now, we will be able to take a call on listing of BSE after resolving several issues pertaining to the integration of Sebi and the FMC," Sebi Chairman U K Sinha told reporters on the sidelines of an Indian Merchants' Chamber function here.
Meanwhile, Sinha refused to answer a question on what the Securities and Exchange Board of India (Sebi) is doing on United Spirits-Diageo controversy, wherein the British company wants USL chairman Vijay Malyya to leave the company, saying "I cannot comment on individual cases."
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After the demutualisation process, the country's premier stock exchange sought regulatory permissions for listing on bourses.
In 2012, Sebi had allowed the stock exchanges which have completed over three years of operations to list their own shares through an IPO. Under Sebi guidelines, stock exchanges should have minimum net worth of Rs 100 crore and were given three years to achieve threshold capital base.
Sinha pointed out that since then several other issues have come up. For example, what is going to be exchange space, especially when commodities markets will also come under the ambit of Sebi and those exchange will also technically become security market instruments.
"Since commodity futures are going to be defined as securities, they can also technically demand and be eligible for trading in futures. So there are whole lot of issues, which are still unresolved. But my feeling is that in period of about six months from now, we will be able to take a call," Sinha said.
"Exchanges in our country today are performing regulatory functions. This includes regulation of brokers and regulation of listed entities...We are trying to evaluate whether we are comfortable with the current arrangement," Sinha added.